Eland Oil & Gas Regulatory News (ELA)

5th January 2016

Eland Oil & Gas PLC

("Eland" or the "Company")

Board Changes

Eland Oil & Gas PLC (AIM:ELA), the oil and gas production, development and exploration company operating in West Africa with a principal focus on Nigeria, announces today several changes to its Board of Directors.

With effect from 31 December 2015, Henry 'Harry' Wilson retired from his role as Chairman of the Company. Harry has been Chairman since its successful flotation in 2012 and was one of the founders.

The Company further announces that, with effect from 31 December 2015, Robert 'Bob' Lambert retired as Non-executive Director of the Company.

Also on that date, the Company appointed Grégory Stoupnitzky to the Board as a Non-executive Director. Gregory has over 25 years of Investment Banking experience in the natural resources and related sectors.

Harry Wilson, outgoing Chairman of the Company said:

"It has been a pleasure working with the team at Eland over the last five years. With the quality of its Nigerian assets, the Company is well positioned to benefit from an upswing in the oil price and I look forward to following its progress"

The Board of Eland also announces that Russell Harvey will be assuming the position of Non-executive Chairman of the Company. Russell has been a Non-executive Director of the Company since its admission on AIM in 2012.

Russell Harvey, incoming Chairman of the Company stated:

"I am pleased to assume the role of non-executive Chairman. The Company has made substantial progress since it was listed and has great potential for further growth given the established team and quality of its assets. The re-balancing of the Board is in response to the opportunities being created by the new market environment and to assist the Company in its next stage of development.

I would like to thank both Harry and Bob for their contributions which were pivotal in bringing the Company to its current producing status and wish them well in their future endeavours.

I would also like to welcome Grégory to the board. He brings a wealth of experience from the corporate and banking sector which will be additive to the skills already represented on the board."

Additional Information

Following the departure of Harry Wilson and Bob Lambert from the board of the Company and the appointment of Grégory Stoupnitzky, the committee structures will be revised as follows. Gregory will be appointed to the Nomination and Audit committees. The Audit committee will remain chaired by Henry Turcan with Russell Harvey assuming the chairmanship of the Reserves and Nomination committee while retaining his current chairmanship of the Remuneration committee.

In addition to his appointment as a director of the Company, Mr Grégory Alexis Stoupnitzky (aged 59) holds, or has held within the last five years, the following directorships or partnerships:

Current:

CIS Capital LLC

Graduate School of International and Public Affairs, Columbia University

Within the last five years:

Azonto Petroleum Limited

Rialto Energy Ltd.

Pace Financial Services

Vioco Petroleum Limited

Center for Energy, Marine Transportation and Public Policy, Columbia University

He held senior positions with Bear Stearns and Morgan Stanley and more recently, he worked with CIS Capital and Renaissance Capital providing advisory services to small companies and institutions involved with oil and gas in geographies including Sub-Saharan Africa. Gregory has a BA and an MA from Columbia University

There are no further disclosures to be made under Schedule 2g of the AIM Rules for Companies.

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